Emerging Themes Essay (Doc)

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Added on 2020-10-22

Emerging Themes Essay (Doc)

Added on 2020-10-22

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Emerging Themes

Table of ContentsINTRODUCTION...........................................................................................................................1MAIN BODY...................................................................................................................................1RECOMMENDATIONS.................................................................................................................2CONCLUSION................................................................................................................................3REFERENCES................................................................................................................................4

INTRODUCTIONEmerging themes are the concepts or explanatory ideas that are determined from data infinal stages of evaluation and given a code or label that describes them. In society, variouschanges are emerge like cashless society, millennial ages and pay day loan. Varioustechnological changes takes place in society which enables people to do cashless transactions.Household debt is a mortgage liability on all real estate and residences, and customer debtinvolving debt outstanding on unsecured and secured loans from banks and financial institutions,credit cards, home equity and personal lines of credit and unpaid bills (Abrahart and et. al.,2012). The theme chosen for this report is emerging changes in society in which cashlesssociety, payday loan and millennial ages are the other themes. This essay covers criticalevaluation of important emerging themes within article and current impact of those oncompanies within household sector. Apart from this, it also discusses about how those themesaffect sector in next five years and their implications on business strategy formulation. MAIN BODYThe key emerging theme of this report is emerging changes in society which includesPayday Loan, Cashless society and millennial ages. Emerging society refers to the societytransforming from dictatorship to free market oriented economy, with gradual integration inglobal marketplace, accelerating economic freedom, improving living standards, social stabilityand tolerance and expanding middle class. Payday loan is a small unsecured loan for short term“irrespective of whether loans repayment is linked to payday of borrowers (Creed and Gureje,2012). These are sometimes also known as cash advances which refers to the cash give againstprearranged credit line like credit card. Payday loan firms can set up clients to become dependenton them as they charge high fees and wants quick payment of loan. This need makes it tough forborrower to pay back the loan and meet their regular monthly expenses. Cashless society definesas an economic state whereby the transactions related to finance are not conducted throughmoney in physical form like coins or banknotes, but rather by digital information transferbetween transacting parties. Today people gradually move towards cashless society. They startsto use more advanced, wireless, electronic and digital payment mode like Mastercard PayPass,VisapayWave, Applepay, Samsung Pay. Firms, public transportation and tolls are also indulgedin it and accept payments through cards just like Uber, Starbucks etc. Cashless transactions assist1

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